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“The RE power generated from the proposed JVC shall meet the Renewable Generation Obligation (RGO) of the UPRVUNL,” NTPC said in a statement.
NTPC is India's largest energy conglomerate. It has presence in the entire value chain of the power generation business. As on 31 December 2023, the Government of India holds 51.10% in NTPC.
The state-run power major’s consolidated net profit rose 7.3% to Rs 5,208.87 crore in Q3 FY24 as compared with Rs 4,854.36 crore recorded in Q3 FY23. Revenue from operations stood at Rs 42,820.38 crore in the December quarter, down 4% from Rs 44,601.84 crore posted in Q3 FY23.
The scrip rose 0.93% to currently trade at Rs 357.10 on the BSE.
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